KIRKLAND, Wash., Aug. 3 /PRNewswire/ -- Costco Wholesale Corp. (NASDAQ: COST) today reported sales of $583 million for the four weeks ended Aug. 1, 1993, an increase of 13 percent from $515 million in the same four-week period of the prior fiscal year. On a comparable warehouse basis, that is warehouses open at least a year, sales increased 3 percent.
The company ended its 1992 fiscal year on Aug. 30, 1992, with 89 warehouses in operation. Since that time 16 new warehouses have been opened, bringing to 105 the number of warehouses now in operation in 15 states and Western Canada. Expansion plans for the remainder of fiscal 1993 include the anticipated opening of four additional warehouse locations.
The company also reported that in connection with the proposed merger of The Price Co. and Costco, the 30-day waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act expired on midnight Friday, July 30, with respect to the required company filings. There remain a number of other conditions to the transaction, including expiration of applicable waiting periods with respect to Hart-Scott-Rodino filings to be made shortly with respect to certain significant shareholders of each company (for which the parties intend to seek early termination) and shareholder approvals of both companies, for which meetings are expected to be held in the early fall of this year, although no dates have yet been set.
-0- 8/3/93
/CONTACT: Richard Galanti of Costco, 206-828-8100, ext. 203/
(COST)

CO: Costco Wholesale Corp. ST: Washington IN: REA SU:

SB -- SE001 -- 8675 08/03/93 07:37 EDT

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